Crypto Biz: When dollars disappear, stablecoins step in
Bolivia is considering a framework that would recognize Tether’s USDT as a payment currency, allowing it to circulate alongside the boliviano and the U.S. dollar for payments and savings. The move reflects a prolonged dollar shortage, a widening gap between official and parallel exchange rates, and rising demand for dollar-linked digital assets. Any rollout would include anti-money-laundering safeguards. Bitcoin miners shifting toward AI infrastructure are facing renewed investor scrutiny, especially over insider stock sales and governance concerns as the sector’s AI rally cools. At the same time, the pivot is producing large new contracts: CleanSpark jumped after signing a 20-year data center lease that could generate up to $6.6 billion in revenue. Bitmine Immersion Technologies posted $45.7 million in quarterly revenue from Ethereum staking and validation, with staking making up nearly all of sales and underscoring the growing profitability of crypto infrastructure beyond mining.
